NSE revises Nifty Bank weekly options expiry to Wednesday from Thursday

livemint.com:

Nifty expiry: The NSE announced on Wednesday a revision in the day for the weekly expiry of futures & options contracts of indices. Effective the week starting on September 04, 2023, the Bank Nifty's weekly index options expiry day will change to Wednesday from Thursday at present. The first Wednesday weekly expiry will be on September 06, 2023.

“Change of BANK NIFTY weekly index options expiry day from existing THURSDAY to WEDNESDAY. The above shall be effective from trade date September 04, 2023 Monday and accordingly, all existing weekly contracts with Thursday expiry will be revised to Wednesday on September 01, 2023 EOD," said a circular by NSE. “There is no change in trading cycle i.e BANKNIFTY will continue to have 4 weekly expiration contracts (excluding monthly contracts), 3 monthly expiration contracts and 3 quarterly expiries (March, June, Sept & Dec cycle)," the circular added.

The settlement schedule for the same willl be intimated separately by Clearing Corporations. Earlier in June, the stock exchange had decided to move the expiry of Nifty Bank Future & options (F&O) contracts to Friday from Thursday for every week. But soon NSE withdrew the change in the expiry day.

The NSE took this decision as the proposed Friday expiry of Bank Nifty coincides with the expiry of Sensex/Bankex F&O contracts that were relaunched by BSE from 15 May,2023. If a public holiday falls on a Wednesday, then the expiry day will be the previous trading day. All weekly contracts will expire on Wednesday of every week, excluding the expiry week of monthly contract, said NSE.